24TH JUNE 2022

WEEKLY CAPITAL MARKET REPORT

INVESTMENT TERM OF THE WEEK GSE EQUITY MARKET PERFORMANCE

Fiat Money: Fiat money is a government-issued currency that is Indicator Current Previous Change
not backed by a physical commodity, such as gold or silver, but Week Week
rather by the government that issued it. The value of fiat money is GSE-Composite Index 2,507.31 2,496.24 11.07 pts
derived from the relationship between supply and demand and the YTD (GSE-CI) -10.11% -10.51% -3.81%
stability of the issuing government, rather than the worth of a GSE-Financial Stock Index 2,170.33 2,171.56 -1.23
YTD (GSE-FSI) 0.86% 0.92% -6.52%
commodity backing it. The U.S. dollar and euro are fiat currencies.
Market Cap. (GH¢ MN) 61,643.87 61,528.03 115.84
ETFs: GREAT DEAL FOR INVESTORS Volume Traded 8,475,595 29,705,115 -71.47%
An exchange traded fund (ETF) is a type of security that tracks an Value Traded (GH¢) 9,046,592.48 25,805,228.99 -64.94%
index, sector, commodity, or other asset, but which can be
purchased or sold on a stock exchange the same as a regular stock. TOP TRADED EQUITIES
New Gold ETF (GLD), an exchange traded fund sponsored by Absa Ticker Volume Value (GH¢)
Capital, offers the opportunity to invest in gold bullion. MTNGH 8,371,392 7,214,616.00
CPC 21,909 438.18
The company issues
sssss listed instruments (structured as debentures) PBC 21,901 438.02
backed by physical gold. Each debenture is approximately CAL 21,099 16,879.20 98.77%
equivalent to 1/100 ounces of gold bullion, which is held with a secure GLD 12,300 1,783,500.00
depository on behalf of investors. The debentures are listed on the
Ghana (GSE) and six other African stock exchanges. KEY ECONOMIC INDICATORS
Indicator Current Previous
The current share price of New Gold ETF (GLD) is GH¢145.00. Monetary Policy Rate May 2022 19.00% 17.00%
Real GDP Growth March 2022 3.3% 5.4%
EQUITY MARKET HIGHLIGHTS: The Ghana Stock
Inflation May 2022 27.6% 23.6%
Market inched up by 11.07 points over the week to
Source: GSS, BOG, GBA
close at 2,507.31; returns -10.11% YTD.
Market activity for the week gained 11.07 points to close at 2,507.31 GAINERS & DECLINER
Ticker Close Price Open Price Price Y-t-D
translating into a YTD return of -10.11%. The GSE Financial Stock Index (GH¢) (GH¢) Change Change
(GSE-FSI) however lost 1.23 points to close the week at 2,170.33 GLD 145.00 144.50 0.50 33.52%
MTNGH 0.87 0.86 0.01 -21.62%
translating into a YTD return of 0.86%. Twenty-two (22) equities SOGEGH 1.18 1.19 -0.01 -1.67%
traded over the week, ending with two (2) gainers and one (1)
decliner. The 2 gainers were GLD and MTNGH as they gained
GSE-CI & GSE-FSI YTD PERFORMANCE
GH¢0.050 and GH¢0.01 to close at GH¢145.00 and GH¢0.87
6.00%
respectively. SOGEGH was the sole decliner as it lost GH¢0.01 to close 0.86%
4.00%
at GH¢1.18. 2.00%
0.00%
Market Capitalization decreased by GH¢115.84 million to close the 4-Jan 4-Feb 4-Mar 4-Apr 4-May 4-Jun
SS -2.00%
trading week at GH¢61.64 billion.
-4.00%
A total of 8.48 million shares valued at GH¢9.05 million traded during -6.00%
-10.11%
S
the week. Compared with the previous trading week, this -8.00%

week’s data shows a 71.47% decline in volume traded and 64.94% -10.00%

decline in trade turnover. Scancom PLC. (MTNGH) recorded lion’s -12.00%

share of trades as it recorded the most volumes and accounted for GSE-CI GSE-FSI
98.77% of the total value traded.
 SBL RECOMMENDED PICKS EQUITY UNDER REVIEW:
SCANCOM PLC. (MTNGH)
Equity Price Opinion Market Outlook
Share Price GH¢0.87
MTN GHANA GH¢ 0.87 Strong 2021 FY Financials Higher Ask Price
Price Change (YtD) -21.62%
BOPP GH¢ 6.00 Strong 2021 FY Financials Low offers
Market Cap. (GH¢) GH¢10.69 billion
CAL BANK GH¢ 0.80 Strong 2021 FY Financials Improving bids
Dividend Yield 13.218%
ECOBANK GH¢ 7.60 Strong 2021 Q3 Financials Bargain bids
Earnings Per Share GH¢0.2303
SOGEGH GH¢ 1.18 Strong 2021 FY Financials Low demand Avg. Daily Volumes 3,896,144
FANMILK GH¢ 3.00 Positive Sentiment Low demand Value Traded (YtD) GH¢1,001,717,834

SUMMARY OF MAY 2022 EQUITY MARKET ACTIVITIES GSE AGAINST SELECTED AFRICAN STOCK MARKETS
Indicator May May % Change Country Current Level YTD
2022 2021 2,507.31 -10.11%
(Ghana) GSE-CI
GSE-CI YTD CHANGE -8.41% 24.70% - 7,207.11 2.82%
(Botswana) BGSMDC
GSE-CI 2,554.79 2,421.11 5.52% 9,439.85 -21.00%
(Egypt) EGX-30
GSE-FSI YTD CHANGE 1.89% 6.74% -
(Kenya) NSE ASI 117.21 -29.59%
GSE-FSI 2,192.57 1,902.90 15.22%
(Nigeria) NGSE ASI 51,705.61 21.04%
VOLUME 657.12 M 58.93 M 1015.12% 66,348.75 -7.30%
(South Africa) JSE ASI
VALUE (GH¢) 607.31 M 72.73 M 735.05%
(WAEMU) BRVM 207.83 2.74%
MKT. CAP. (GH¢M) 62,276.63 59,333.16 9.12% Source: Bloomberg
ADVANCERS & |
DECLINERS
Source: Ghana Stock Exchange, SBL Research

COMMODITIES MARKET
CURRENCY MARKET
Commodity Closing Previous YTD
Currency Closing Previous YTD
Week Week (%)
Week Week Change
(GH¢) (GH¢) %
BRENT CRUDE OIL 112.40 112.93 42.06%
DOLLAR 7.2150 7.2030 -16.76%
(US$/bbl.)
POUND 8.8683 8.7823 -8.36%
EURO 7.6162 7.5394 -10.35% GOLD 1,826.90 1,837.70 0.12%
YEN 0.0534 0.0534 -2.25% (US$/oz)
YUAN 1.0791 1.0710 -12.45%
CFA FRANC 86.1266 87.0045 11.54% 2,322.57 2,283.57 -5.21%
COCOA
Source: Bank of Ghana (US$/MT)
Source: Bloomberg, Bullion by Post, ICCO

JUSTIFICATIONS FOR INCLUDING STOCKS IN A PORTFOLIO ANALYSTS

Typically, stocks outperform all other investment options over a ten-year period
Godwin Kojo Odoom: Senior Research Analyst
making them a must for long term portfolio.
They are excellent vehicles for retirement. Obed Owusu Sackey: Analyst
Except for a few short periods, stocks have consistently outpaced the rate of inflation.

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